Yahoo: Rpt Capital Research Won’t Back Yang, Bostock

By Eric Savitz

The New York Post is reporting that mutual fund giant Capital Research, the second-largest holder of Yahoo (YHOO) shares, may withhold its votes for chairman Roy Bostock and CEO Jerry Yang at the company’s August 1 annual meeting as a protest against how the company handled the recent bid for the company by Microsoft (MSFT). Since Carl Icahn backed away from his proxy fight, the move would be symbolic, but wouldn’t change much. But it would, as the Post notes, send “yet another signal to the market that Yahoo shareholders are not happy.” Capital Research holds a 6.5% stake in the company.

Here’s another sign of unhappy holders: Yahoo today is down 54 cents, or 2.6%, to $20.59.

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There are 10 comments

JULY 28, 2008 12:04 P.M.

Joemiz wrote:

Yahoo will die from here everyone is laughing at the company's managment - Carl will lose a bundel - bye bye Jerry

JULY 28, 2008 1:38 P.M.

nate wrote:

It has been clear for quite some time that Yahoo is not ready to listen to its unhappy shareholders. As unhappy as they are, sentiment for YHOO has remained relatively gradual, with only a few dips into bearish territory (http://predictwallstreet.com/forecast.aspx?symbol=YHOO. ) I'm curious as to why it hasn't dropped more as the price keeps slipping. Checking the 3 month sentiment graph at PredictWallStreet.com shows that even when the price was low, people remained pretty neutral. After August 1sts meeting, I'm curious to see how responsive Yahoo will be to its shareholders.

JULY 28, 2008 1:42 P.M.

Joemiz wrote:

Steve help us please..............!!!!!!!!

JULY 28, 2008 1:56 P.M.

Anonymous wrote:

joes still short... as well as being out of touch.
Eric -- as for using the NY Post as a "source", I'd have to say your motives are a bit suspect, too. Your headline: "Won't Back"; your article: "may withold". c'mon...

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